Treasury's Mnuchin says there's no need for a digital dollar

U.S. Treasury Secretary Steven Mnuchin said he spoke to the Federal Reserve about cryptocurrencies, and the Financial Stability Oversight Council has set up a working group on it.

He and the Fed don't see a need to issue a digital currency, Mnuchin said today in Washington.

While there is a growing clamor for regulation of the estimated $700 billion cryptocurrency market, Mnuchin said there are U.S. laws allowing for the tracking of cryptocurrencies and bitcoin activities. ...

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